Tweet
HSBC left itself open to criminal charges in the UK over its Swiss tax-dodging scandal, ex-director of public prosecutions Lord Ken Macdonald says. The QC said there were strong grounds to investigate the bank for "cheating" HM Revenue and Customs (HMRC). He added that HMRC's decision not to prosecute was "seriously flawed".
Allegations emerged earlier this month that the bank had helped hundreds of people evade UK tax using hidden HSBC accounts in Geneva. Also on Sunday, Chief Secretary to the Treasury Danny Alexander told the BBC the Liberal Democrats wanted to introduce new laws on tax evasion.
He told the Andrew Marr Show the party wanted to make those who facilitate any tax evasion, for example lawyers, accountants and banks, as culpable as those who evade tax themselves. He said the party would "seek to pursue this [in government] over the next few weeks" but, if there was not enough time before the general election, the proposal would form a key part of the party's manifesto.....Read more here
- Hi & Welcome to the AAD Consumer Forum
We're a FREE consumer debt and legal forum offering help, support and debate in many areas of day-to-day life. You will need to Register a Free Account before you can join in with the discussion and contribute with your own posts. Remember to also check out the FAQ's so you can get to grips with how the forum works ready to start posting your new topics. Read about the new GDPR 2018 Rules and how it affects you as a member of AAD.
The two top HSBC bosses have apologised for "unacceptable" practices at its Swiss private bank which helped clients to avoid tax. Stuart Gulliver, group chief executive, said it had caused "damage to trust and confidence" in the company. He and chairman Douglas Flint were answering questions from UK Members of Parliament of the Treasury Committee. Mr Flint said he felt shame and would "take his share of responsibility" for Swiss private bank failings. But when asked by MPs who was most responsible for the problems in HSBC's Swiss private bank, Mr Flint said: "The individuals most accountable for the data theft and the behaviour that was unacceptable to our standards, was the management in Switzerland.....Read more here